Consolidated Financial Results for the Nine Months of Fiscal Year Ending March 31, 2022
<under Japanese GAAP>February

9, 2022Company name : NIKKO COMPANY
ID number: 5343 Stock listing : Nagoya Stock Exchange Second Section
URL: http://www.nikko-company.co.jp/
Representative : Akiko Mitani, Chief Executive Officer
Contact: Kazuya Nunokawa, Chief Financial Officer (Phone: +81-76-276-2121)
Scheduled date to submit Securities Report: February 10, 2022
Scheduled date to begin dividend payments: Preparation of supplementary materials for financial results : NoneHolding of financial results meeting: None
(All amounts are rounded down to the nearest million yen)
1. Consolidated Financial Results for the Nine Months Ended December 31, 2021 (April 1, 2021 - December 31, 2021)(1) Consolidated operating results(Percentage figures represent changes from the same period of the previous year.)Net sales

Operating income

Profit (loss) attributableto owners of parent

Ordinary income％ Millions of yen％％
Millions of yen
Millions of yen
Millions of yen
Nine months ended9,295
14.6(135)(49)(63)
December 31, 2021(603)Nine months ended
8,114(16.2)(502)(519)
December 31, 2020
Note: Comprehensive income (Millions of yen) :December 31, 2021 : (64) (-%) December 31, 2020 : (504) (-%)
Net income
per share
Yen
Nine months ended
December 31, 2021％-

Diluted net income
per shareYen(2.72)-

Nine months ended(22.28)December 31, 2020
Note:Revenue recognition accounting standards, etc. have been applied from the beginning of the first quarter consolidated accounting
period, and the figures for the third quarter of the fiscal year ending March 2022 are the figures after applying the accounting standards.
(2)Consolidated financial position
Total assets

Net assets

Millions of yen

Equity ratio

Millions of yen

Net assets per share%

Yen
As of December 31,
8,846
757
8.6
32.49
2021
Year ended Mar.
9,003
772
8.6
33.16
31, 2021
Reference: Shareholders' equity (Millions of yen) : December 31, 2021: 757
Mar. 31, 2021: 772
Note:Revenue recognition accounting standards, etc. have been applied from the beginning of the first quarter consolidated accounting
period, and the figures for the third quarter of the fiscal year ending March 2022 are the figures after applying the accounting standards.
2. Dividends(Record date)

Dividend per share
1Q-end2Q-endYen

Year ended Mar.
31, 2021
Year ending Mar.
31, 2022
Year ending Mar.
31, 2022(forecast)

3Q-endYen

Year-end
Yen

-

0.00

--0.00-

1

Annual
Yen

Yen

0.00

0.00

0.00

0.00

NIKKO COMPANY

3. Consolidated Forecast for the Fiscal Year Ending March 31, 2022 (April 1, 2021 - March 31, 2022)
The NIKKO Group will no longer disclose its projected consolidated results for periods starting from that ending in March 2019. Detailsof the decision are described in “3. Projected Consolidated Results for FY2021” in the “Consolidated Financial Results for the Fiscal
Year Ended March 31, 2021” disclosed on May 13, 2021.
※Notes(1) Changes in major subsidiaries during the period : None
(2) Application of special accounting methods for quarterly consolidated financial statements : None
(3) Changes in accounting policies, changes in accounting estimates, or restatement
1) Changes in accounting policies due to changes in consolidated accounting methods :2) Changes other than 1) above: None
3) Changes in accounting estimates : None
4) Restatement: None

Yes(4) Number of shares outstanding (common shares)
1) Number of shares outstanding (including treasury stock) at the end of the period
December 31, 2021 :24,172,000 sharesMar. 31, 2021 :24,172,000 shares
2) Number of treasury stock at the end of the period
December 31, 2021 :
864,592 sharesMar. 31, 2021 :
864,592 shares
3) Average number of shares issued during the period (cumulative; consolidated)
Nine months ended December 31, 2021 : 23,307,408 shares Nine months ended December 31, 2020 : 23,307,446 shares* Quarterly financial statements are not subject to a quarterly review by certified public accountants or an auditing company.

2NIKKO COMPANY
Consolidated quarterly Financial Statements(1) Consolidated Balance Sheet

AssetsCurrent assets
Cash and deposits
Notes and accounts receivable-trade
Notes and accounts receivable - trade, and contract assets
Merchandise and finished goods
Work in process
Costs on uncompleted construction contracts
Raw materials and supplies
OtherAllowance for doubtful accounts
Total current assets
Noncurrent assets
Property, plant and equipment
Buildings and structures
Accumulated depreciation
Buildings and structures, netMachinery, equipment and vehicles
Accumulated depreciation
Machinery, equipment and vehicles, net
Tools, furniture and fixtures
Accumulated depreciation
Tools, furniture and fixtures, net
Land
Lease assets
Accumulated depreciation
Lease assets, net
Construction in progress
Total property, plant and equipment
Intangible assets
Investments and other assets
Investment securities
Other
Allowance for doubtful accounts
Total investments and other assets
Total noncurrent assets
Total assets
Liabilities
Current liabilities
Notes and accounts payable-trade
Short-term loans payable
Current portion of bonds
Current portion of long-term loans payable
Lease obligations
Income taxes payable
Provision for bonuses
Provision for product warranties
Other
Total current liabilities
Noncurrent liabilities
Bonds payable
Long-term loans payable
Lease obligations
Deferred tax ｌiabilities
Provision for directors' retirement benefits
Net defined benefit liability
Other
Total noncurrent liabilities
Total liabilities
Net assets
Shareholders' equity
Capital stock
Capital surplus
Retained earnings
Treasury stock
Total shareholders' equity
Accumulated other comprehensive income
Valuation difference on available-for-sale securities
Foreign currency translation adjustment
Remeasurements of defined benefit plans
Total accumulated other comprehensive income
Total net assets
Total liabilities and net assets

3

FY03/2021(As of Mar.31,2021)(Millions of yen)
FY03/2022(As of Dec.31,2021)

1,320
1,778
―
1,352
547
414
287
85(5)
5,780

1,147―
1,912
1,386
554
358
347
76
(5)
5,778

6,889
(5,522)
1,367
4,324(4,018)
305
1,131
(1,079)
51
955
393
(149)
243
78
3,002
38

6,922
(5,626)
1,296
4,383(4,089)294
1,158(1,090)
67
955
393
(253)
139
69
2,822
41

91
93
(2)
181
3,222
9,003

98
107
(2)
203
3,067
8,846

2,420
2,255
40
99
140
41
169
70
938
6,175

2,501
2,250
40
99
96
32
84
70
987
6,162

140
340
110
4
57
1,288
114
2,054
8,230

120
278
49
3
65
1,299
110
1,926
8,088

3,470
1,584
(3,873)
(338)
842

3,470
1,584
(3,887)(338)
8280(106)
36(70)
772
9,0030(102)31(71)
757
8,846

NIKKO COMPANY(2) Consolidated quarterly statements of income and consolidated quarterly statements of comprehensive income
Consolidated quarterly statements of income

Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Operating loss
Non-operating income
Interest income
Dividend income
Share of profit of entities accounted for using equity method
Other
Total non-operating income
Non-operating expenses
Interest expenses
Foreign exchange losses
Other
Total non-operating expenses
Ordinary loss
Extraordinary Income
Gain on sales of noncurrent assets
Total extraordinary Income
Extraordinary losses
Loss on sales of noncurrent assets
Loss on retirement of noncurrent assets
Total extraordinary losses
Loss before income taxes
Income taxes-current
Income taxes-deferred
Total income taxes
Profit (loss)
Profit (loss) attributable to owners of parent

FY03/2021(Apr.1, 2020-Dec.31,2020)(Millions of yen)
FY03/2022(Apr.1, 2021-Dec.31,2021)

8,114
6,004
2,109
2,713(603)

9,295
6,556
2,739
2,875(135)000141141061
35111615101441(502)18―1129(49)――44000(503)
16(0)
15(519)―22(47)
16(0)15(63)

(519)

(63)

(Millions of yen)
FY03/2021(Apr.1, 2020-Dec.31,2020)(Millions of yen)
FY03/2022(Apr.1, 2021-Dec.31,2021)

(519)

(63)

00
16(2)
14(504)

00(5)
3(0)
(64)

(504)
―

(64)
―

Consolidated quarterly statements of comprehensive income

Profit (loss)
Other comprehensive income
Valuation difference on available-for-sale securities
Foreign currency translation adjustment
Remeasurements of defined benefit plans, net of tax
Share of other comprehensive income of entities accounted for using equity method
Other comprehensive income
Comprehensive income
Comprehensive income attributable toComprehensive income attributable to owners of the parent
Comprehensive income attributable to non-controlling interests

4

NIKKO COMPANY[Consolidated Segment Information]
Nine Months ended December 31, 2020 (April 1, 2020 – December 31, 2020)
Housing & Functional
Environmental Ceramics
Equipment
ProductTabletop

Segment
totalAdjustment(Note 1)

(Millions of yen, rounded down)Amounts on theconsolidated
financialstatements(Note 2)

Net sales
Sales to Outside Customers
Intersegment sales or Transfers
Total
Segment profit (loss)(Operating income (loss))

6,015

1,347

751

8,114

-

8,114

-

-----

6,015

1,347

751

8,114

-

8,114

197

(54)

(308)

(165)

(438)

(603)

Note: 1. Segment income adjustment of 438 million yen consists of expenses related to departments that do not belong to
the reportable segments.
Note: 2. Segment profits and losses are adjusted with Operating loss on the consolidated quarterly statements of income.
Nine Months ended December 31, 2021 (April 1, 2021 – December 31, 2021)
Housing & Functional
Environmental Ceramics
Equipment
ProductNet sales
Goods and services
transferred at a point intime
Goods and services
transferred over time(Note 3)
Revenue from contracts withcustomers
Other revenue(Note 4)
Sales to Outside Customers
Intersegment sales or Transfers
Total
Segment profit (loss)(Operating income (loss))

Tabletop

Segment
totalAdjustment(Note 1)

(Millions of yen, rounded down)Amounts on theconsolidated
financialstatements(Note 2)

1,341

1,905

911

4,158

-

4,158

5,137--

5,137-

5,137

6,478

1,905

911

9,295

-

9,295

-

-

00-

0

6,478

1,905

911

9,295-

9,295

-

----

-

6,478

1,905

911

9,295-

9,295

429

164

(205)

389

(525)

(135)

Note: 1. Segment income adjustment of 525 million yen consists of expenses related to departments that do not belong to
the reportable segments.
Note: 2. Segment profits and losses are adjusted with Operating loss on the consolidated quarterly statements of income.
Note: 3. Goods and services transferred over time in the Housing Environment Equipment Business include goods and services thatwere applied alternative treatments and were then recognized as revenue when performance obligations were fully satisfied.
Note: 4. Other revenue is income based on accounting standards for leasing transactions.
2. Change in reportable segments
As described in “Changes in accounting policy”, the accounting standard for revenue recognition was applied from the beginning of
the first quarter consolidated accounting period, and the accounting method for revenue recognition was changed. Accordingly, themethod for calculating profits or losses for our business segments is also changed.
As a result of this change, sales of the “Housing Environmental Equipment Business” for the third quarter of the current consolidated
cumulative period increased by 127 million yen and segment profit increased by 31 million yen compared to the conventional
method.Sales of the “Functional Ceramics Product Business” for the second quarter of the current consolidated cumulative period
increased by 36 million yen and segment profit increased by 32 million yen compared to the conventional method.
Sales of the “Tabletop Business” for the second quarter of the current consolidated cumulative period decreased by 2 million yen andsegment loss decreased by 11 million yen compared to the conventional method.

5